BOHEMIA, N.Y., Nov. 15, 2007 (PRIME NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND) reported yesterday net income of $146,700 ($.13 per basic share) for the three months ended September 30, 2007, which was 89% ($69,100) greater than the net income of $77,600 ($.08 per basic share) for the comparable period of the prior year. Net sales for the Fiscal 2008 first quarter were $1,500,400, an increase of $697,500 (87%) from the net sales of $802,900 for the Fiscal 2007 first quarter.
Contributing to the increased net income and net sales were the sales and profit of the customized catalyst research instrument operations acquired on November 30, 2006, an increase in the sales of the Company's benchtop laboratory equipment operations and a reduction in the operating expenses of that segment.
Ms. Helena R. Santos, President and Chief Executive Officer of the Company, stated that while management was pleased with the first quarter's operating results, it remains dedicated to having the Company expand the efforts to maintain and possibly improve such favorable results, although no assurance can be given.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie(r) 2 Mixer, and since November 2006 produces and sells customized catalyst research instruments. Scientific Industries' products are generally used for research purposes in laboratories of universities, hospitals, pharmaceutical companies, chemical companies, and medical device manufacturers.
The Scientific Industries logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=715
"Statements made in this press release that relate to future events, performance or financial results of the Company are forward-looking statements which involve uncertainties that could cause actual events, performance or results to materially differ. The Company undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in the Company's Securities and Exchange Commission reports, including our annual report on Form 10-KSB."